GUARANTEES.

Source :: Journal of International Banking Law & Regulation; Oct2012, Vol. 27 Issue 10, Special section p170-172, 3p
Publication Year :: 2012
Abstract: The article discusses payment guarantees and on demand bonds in Great Britain as of October 2012, focusing on the 2012 England and Wales High Court's ruling in the case (1) Wuhan Guoyu Logistics Co. Ltd. (2) Yangzhou Guoyo Shipbuilding Co. Ltd. v. Emporiki Bank of Greece SA. The case reportedly involved an alleged guarantee of a second installment regarding the price for a vessel due under a shipbuilding contract.